The United States will become a net oil and gas exporter by 2022, the Energy Information Administration (EIA) said in this year’s edition of its Annual Energy Outlook. Slower domestic demand, along with growth in natural gas, oil, and oil product production will drive the transformation, the EIA said. That sounds like President Trump’s dream of energy dominance come true, but of…[READ MORE]

OPEC raises its oil demand forecast but sees supplies from beyond the producer group surging this year, driven by rising U.S. output. A monthly report also showed OPEC's production was little changed in January as the group continues to limit its output for a second year in order to balance an oversupplied market. OPEC said Monday it expects demand for…[READ MORE]

"U.S. producers are enjoying a second wave of growth so extraordinary that in 2018 their increase in liquids production could equal global demand growth," the IEA said in its closely-watched report published Tuesday. In November 2014, the so-called U.S. shale revolution prompted OPEC to announce a new strategy geared towards improving its market share. Market conditions in early 2018 seem…[READ MORE]